5MRD

YETI Stock Vulnerable to Downgrades, Bear Notes

YETI is down 64% in 2022

facebook X logo linkedin


YETI Holdings, Inc. (NYSE:YETI) is deep in the red today, last seen down 5.7% to trade at $29.62. Last week, Piper Sandler slashed YETI's price target to $48 from $76, warning that a reduction of discretionary spending from Americans could weigh on premium products such as the drinkware maker. 

While we don't believe in #freeads, Yeti products appear to be worth the investment. But that's just what they are, an investment that might be put on ice -- no pun intended -- when the macroeconomic picture is as murky as it is now. 

On the charts, YETI has been consolidating around the $30 level for the last month. The shares are down 64% in 2022, and remain a chip-shot from their Sept. 30 two-year bottom of $27.86. More price-target cuts or even downgrades could be on the way, considering nine of 13 brokerages in coverage rate YETI a "buy" or better, with zero "sells" on the books. Plus, the consensus 12-month price target of $54.86 is an 84% premium to the equity's current perch. 

Short-term options traders are call-focused, per YETI's Schaeffer's put/call open interest ratio (SOIR) of 0.25 that sits higher than just 3% of readings from the last 12 months. Should you want to speculate on the security with options, it's also worth noting the YETI's Schaeffer's Volatility Scorecard (SVS) ranks at a relatively high 85 out of 100. This suggests Yeti stock has exceeded option traders' volatility expectations during the last year.

 

The $25K Day Trading Barrier is Gone

The long-standing Pattern Day Trader (PDT) rule that required many traders to maintain a $25,000 account balance is no longer standing in the way.

That means more traders can actively pursue short-term opportunities without the barrier that kept so many on the sidelines.

Now it's all about having the right strategy.

Dynamite Day Trading Signals helps you hit the ground running with up 2 options trade alerts per week, built to capture fast-moving opportunities.  

👉 Sign up now to receive the next trade

MR content page
 
 
 
 

Follow us on X, Follow us on Twitter